Qingdao Zhongda Chemical Fiber Co., Ltd., a joint venture between Qingdao Zhongtai Group and French Rhodia Corporation, was wholly acquired by Quanzhou Tianyu Chemical Fiber Weaving Industry Co., Ltd. at the end of January. After the strong merger, it will form the largest nylon production enterprise in the country. It reached 450 million yuan. The transaction will increase Tianyu Group's annual production capacity by 20,000 tons to 108,000 tons.
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